The Elect Workplace Pension is a market-leading workplace pension solution that is simple and free to set up. It ensures you are complying with the latest regulations and the range of services and resources available mean you can tailor your Elect Workplace Pensions to meet your needs and those of your employees.
At its core are three core elements:
1) The pension itself. Using our experience and expertise, we have undertaken a review of the market before selecting Aviva as the provider of the Elect Workplace Pension. This means you have the peace of mind that your company pension meets all the regulatory requirements and makes you compliant with your legal obligations.
2) A default investment strategy from the Mercer SmartPath™ investment solution. Get the advantage of our specialisation in investment strategy and portfolio construction with the Mercer SmartPath™ default fund.
Members benefit from an investment strategy that allows them to access their retirement income in the way they want to.
3) The Elect Workplace Pension also provides you with a range of optional extra services to help you engage and support your people in getting the most from your pension. These services, tools and resources mean you can tailor your Elect Workplace Pension to meet your budget and the specific needs of you and your employees.
|Supplemental Services||Cost (plus VAT)|
|Incepting a New Elect Aviva Pension Scheme||£1,000|
|Educational Presentations||£1,150 per day plus travel expenses|
|Face-to-Face "Ask Mercer Marsh Benefits" Sessions||£1,150 per day plus travel expenses|
|Governance Meetings||Establish a new committee: £3,290
Ongoing meetings: £3,705 per meeting
|Benchmarking (Comparing other employer packages)||£1,000 - £2,000|
|Comparison Reports (Comparing our Elect Aviva Pension Plan against the existing plan)||£1,000|
|Multiple Plan Specs||£100|
|Plan Governance||£4,000 - £5,000|
Setting up an Elect Workplace Pension couldn’t be easier with the help of our expert consultants to guide you through the process. Contact us today and get a no obligation quote for free.
We are a UK based, small and medium sized business benefits specialist. As part of the Mercer Marsh Benefits family, one of the largest employee benefits consultancy and brokerage businesses in the world, Elect provides access to global know-how and negotiation, all wrapped up in a service designed for businesses between 10-250 employees.
We acknowledge that there are potential conflicts of interest in recommending an investment solution for which other parts of our business will be remunerated. As such, we recommend you read the important information here for details on how we manage these and more information on the default investment strategy in general.
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